CAGAYAN DE ORO CITY (PIA) – The Bureau of Internal Revenue (BIR) brought its Ease of Paying Taxes (EOPT) roadshow to Cagayan de Oro City on July 15, 2024, to educate taxpayers about the latest taxpayer-friendly reforms of the government.
Signed into law by President Ferdinand R. Marcos Jr. in January, the EOPT introduces significant reforms to simplify tax compliance and reduce taxpayer burdens.
It introduces a four-tiered classification system for micro, small, medium, and large businesses, streamlining regulations and paperwork for each category.
Another key feature of the law is the removal of the annual P500 registration fee for businesses and the shift to an invoice system which simplifies the registration process and expedites VAT refund processing.
The EOPT also embraces a more online-focused approach, allowing taxpayers to “file and pay anywhere” electronically.
BIR Commissioner Romeo Lumagui Jr. emphasized the importance of the EOPT roadshow underscoring that tax awareness is essential for compliance. Accordingly, the nationwide initiative aims to empower taxpayers with clear information about the new law and foster a more compliant tax environment.
Lumagui said the EOPT roadshow also allows the BIR top management to personally connect with taxpayers and ensure they understand the new system. This will also lead to consistent enforcement of tax regulations across all regions, benefiting both taxpayers and the government.
This will also pave the way to a uniform and consistent enforcement of all our revenue regulations throughout all the revenue regions and revenue district offices that will enable us to render our committed service to the public in general and to the taxpayers,” he added.
The roadshow also presented the highlights of the seven new revenue regulations issued by the BIR to implement the EOPT Act. These regulations cover taxpayer classification, registration and invoicing, income and withholding tax, value-added tax, refunds, penalties, and publication.
Lumagui acknowledged the challenges faced by the Bureau in implementing the EOPT Act but assured taxpayers that the BIR is committed to continuous improvement and is actively working to refine its processes to enhance tax compliance.
“As we travel along the implementation phase of this law, it has demonstrated and poses a degree of challenge to the Bureau and its officials. These changes required us to amend customary processes and think outside the box to execute the mandate of the law and the real intention of our lawmakers in drafting it,” he stated. (APB/PIA-10)
